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Texas Law Legal Clarity Bitcoin - Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides


May 27, 2021
The bill formally defines virtual currencies and offers individuals and businesses a clear legal environment for bitcoin investment.
State lawmakers in Austin, Texas have achieved a milestone in Bitcoin regulation as the state Senate passed House Bill 4474 this morning. The “Virtual Currency Bill” is now on its way to Governor Greg Abbott’s desk to be signed into law. Advocates of the bill expect swift action from the governor, who tweeted this March, “Count me in as a crypto law proposal supporter. It is increasingly being used for transactions and is beginning to go mainstream as an investment. Texas should lead on this.” ....

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Token Taxonomy Bill: Crypto holidays are here – Bankless Times


Token Taxonomy Bill: Crypto holidays are here
The following article was provided by Mike Minihan, partner at BX3 Capital.
For crypto enthusiasts in the US, Christmas came a few days early this year. The industry’s thought leaders descended on Congress in September, pleading for legislation of any kind, to help stabilize a jittery industry that most feared “regulation by enforcement.” With but one day remaining before the Congressional holiday, it was suddenly clear that those pleas were heard!
The bipartisan bill introduced yesterday by Reps. Warren Davidson (R-OH) and Darren Soto (D-FL) made several extraordinary accomplishments. But first and foremost, it put the world on notice that the US recognizes the importance of emerging opportunities for digital currency, tokens, and blockchain-based tools. Is it a perfect solution? No. It is, however, a critical first step towards ensuring US leadership in emerging technology. ....

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SEC Chairman Testifies About Digital Assets


SEC Chairman Testifies About Digital Assets
Monday, May 10, 2021
In a wide-ranging hearing before the House Financial Services Committee on May 6, 2021, SEC Chairman Gary Gensler addressed a number of SEC regulatory priorities, including the recent short-squeeze on so-called “meme stocks,” gamification of securities trading, broker-dealer payment for order flow, and climate change disclosure. During his first testimony before Congress as SEC chair, Gensler also answered a series of questions on cryptocurrency and digital asset regulation.  The statements on crypto regulation begin to shed some light on his official approach to regulating the digital asset security ecosystem.
Responding to questioning from Rep. Patrick McHenry (R-NC), Chairman Gensler said that the cryptocurrency market, which he noted is valued at more than $2 trillion, could benefit from “greater investor protection” under the SEC’s existing authority to regulate securities and ....

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